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Thursday, February 03, 2005

Yahoo! News - Social Security Makeover Tops Bush Agenda

Yahoo! News - Social Security Makeover Tops Bush Agenda

Last night President Bush gave his State of The Union speech. As reported his "Social Security Reform" was the big topic during the talk. As he began to touch on the subject Democrats were screaming "No" as the Republicans were cheering the President on.

The Bush concept on Social Security is anything but secure. The reason for that is whenever he explains the idea he leaves out alot of details. This leaves the common viewer of his speech to express that he likes the idea of allowing people to manage their own social security money. And if that is all that is said, "You will get to be in charge of your own money," it would be hard not to agree.

Unfortunately the main problem with the idea is that the money we put in the program today is NOT our own money. The money is that of todays elder people and handicapped. Bush didn't explain some very integral things to the plan:

1. How much money will people be able to do their own investing with?
2. What will the age cutoff be for people to be able to do the investing?
3. What happens if someone messed up their investment and then needs help making ends meet?
4. Will their be any shortfall of benefits to the elder as the program starts? (Since the people would be paying in less)
5. Which types of stocks will be available to investors? All of them? Or just low risk ones?
6. How easy will it be to transfer ones money to another stock if the first stock starts to fail?
7. Will taking your money out of the investment program be an option?

None of these questions were answered during his Wednesday night speech. The whole point of this reform is to give people contorl of their own money. However, if the government picks how much you can invest, which stocks you can invest in, and when you can take your money out wouldn't they still be in control of it? Furthermore, does it seem that the wealthy politicians may just select stocks that could help them and their buddies on Wall Street out? Is this just another ploy to make Americans think they are getting something special when they're just helping line the pockets of already wealthy people? These questions will have to remain unanswered until someone actually explains what this program will entail.


At 2/05/2005 11:57 PM, Blogger bikeman said...

every town, school State is in trouble. Bush's tax cut to the rich has started a real mess. Now he wants to mess up social security. God help us. Bushe's world is not for me


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